Indo Tambangraya prints net profit of IDR 18.21 trillion in 2022

Coal mining issuer PT Indo Tambangraya Megah Tbk (ticker code: ITMG) recorded profit for the year attributable to owners of the parent entity of US$1.2 billion or the equivalent of IDR 18.21 trillion (exchange rate of IDR 15,182) throughout 2022.

Meanwhile, the net profit shot up 152.34 percent year on year (yoy) from the previous US$2.07 billion in 2021. Launching financial reports on the Indonesia Stock Exchange (IDX), Jakarta, Thursday, net profit per share attributable to owners of the parent entity is US$1.07 in 2022, up from US$0.43 previously in 2021. Meanwhile, gross profit was recorded at US$1.89 billion in 2022, or grew significantly from the previous US$916 million in 2022.

The company’s profit was supported by revenue which grew 75 percent yoy to US$3.63 billion in 2022, from US$2.07 billion in 2021.ITMG recorded a cost of revenue of US$1.74 billion, an increase from the previous US$1.16 billion for the 2021 period.

Then, selling expenses were recorded at 169.76 million US dollars, general and administrative expenses were recorded at 41.91 million US dollars, financial expenses were recorded at 3.35 million US dollars, and other net worth was 143.43 million US dollars. Meanwhile, financial income amounted to 8.86 million US dollars. Thus, the company’s profit before income tax reached US$1.54 billion, a significant increase from the previous US$621 million in 2021. The company recorded liabilities of 689.89 million US dollars, and equity of 1.95 billion US dollars. Thus, the company’s total assets were recorded at US$2.64 billion as of December 31, 2022.


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